As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the online marketplace industry, including Cars.com (NYSE: CARS) and its peers.

Marketplaces have existed for centuries. Where once it was a main street in a small town or a mall in the suburbs, sellers benefitted from proximity to one another because they could draw customers by offering convenience and selection. Today, a myriad of online marketplaces fulfill that same role, aggregating large customer bases, which attracts commission-paying sellers, generating flywheel scale effects that feed back into further customer acquisition.

The 12 online marketplace stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was in line.

While some online marketplace stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.1% since the latest earnings results.

Cars.com (NYSE: CARS)

Originally started as a joint venture between several media companies including The Washington Post and The New York Times, Cars.com (NYSE: CARS) is a digital marketplace that connects new and used car buyers and sellers.

Cars.com reported revenues of $183.9 million, up 1.9% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a significant miss of analysts’ EBITDA estimates.

The stock is down 23.9% since reporting and currently trades at $8.18.

Read our full report on Cars.com here, it’s free.

Best Q4: eBay (NASDAQ: EBAY)

Originally known as the first online auction site, eBay (NASDAQ: EBAY) is one of the world’s largest online marketplaces.

eBay reported revenues of $2.97 billion, up 15% year on year, outperforming analysts’ expectations by 3%. The business had an exceptional quarter with revenue guidance for next quarter exceeding analysts’ expectations and EPS guidance for next quarter beating analysts’ expectations.

The market seems happy with the results as the stock is up 8.5% since reporting. It currently trades at $89.18.

Is now the time to buy eBay? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Shutterstock (NYSE: SSTK)

Originally featuring a library that included many of founder Jon Oringer’s photos, Shutterstock (NYSE: SSTK) is now a digital platform where customers can license and use hundreds of millions of pieces of content.

Shutterstock reported revenues of $220.2 million, down 12% year on year, falling short of analysts’ expectations by 12.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and EBITDA estimates.

Shutterstock delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 5% since the results and currently trades at $16.41.

Read our full analysis of Shutterstock’s results here.

Sea (NYSE: SE)

Founded in 2009 and a publicly traded company since 2017, Sea (NYSE: SE) started as a gaming platform and has since expanded to offer a variety of services such as e-commerce, digital payments, and financial services across Southeast Asia.

Sea reported revenues of $6.82 billion, up 37.2% year on year. This number topped analysts’ expectations by 6.1%. More broadly, it was a mixed quarter as it also produced a solid beat of analysts’ revenue estimates but a miss of analysts’ EBITDA estimates.

The company reported 58 million users, up 15.1% year on year. The stock is down 24.1% since reporting and currently trades at $79.88.

Read our full, actionable report on Sea here, it’s free.

Etsy (NYSE: ETSY)

Founded by a struggling amateur furniture maker Robert Kalin and his two friends, Etsy (NYSE: ETSY) is one of the world’s largest online marketplaces, focusing on handmade or vintage items.

Etsy reported revenues of $881.6 million, up 3.5% year on year. This result was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also logged a solid beat of analysts’ EBITDA estimates but a decline in its buyers.

The company reported 93.54 million active buyers, down 2% year on year. The stock is up 8.1% since reporting and currently trades at $47.63.

Read our full, actionable report on Etsy here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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